Do you like our blog? The American Bar Association’s ABA Journal is now accepting nominations for the 8th Annual Blawg 100 to identify the best 100 legal blogs, or “Blawgs”. We at the Ohio State Tax Blog are asking for help…

Thanks to recently passed Am. Sub. S.B. 263, the Ohio Tax Commissioner has one more duty – to notify taxpayers who have overpaid a tax or fee. Pursuant to R.C. 5703.77, taxpayers with a “credit account balance” will now…

Gov. Kasich signed legislation (H.B. 483) this week which made several changes to Ohio taxes. While not as ambitious as initially proposed, this legislation continues to reduce the tax burden on Ohio residents and business owners. The most…

As explained in the previous post, an IRS federal tax lien encumbers your property. With a federal tax lien, the IRS acquires a claim to your property, whereas through a tax levy or a seizure, the IRS actually takes your property away from…

Timeline of Required Notices and Deadlines when the IRS Intends to Levy or Seize Your Property

The law requires that the IRS gives you various notices and demands before actually levying or seizing your property. Remember that you must act quickly to ensure that the IRS does not actually levy your wages or other property. For example,…

Federal Tax Liens – The Beginning of how the IRS gains hold of your property for non-payment of taxe

With a federal tax lien, the IRS acquires a claim to your property. A closely related term is Levy. Through a federal levy or a seizure, the IRS actually takes your property away from you. As mentioned in my previous post about IRS…

The answer is not certain. In Top 5 Reasons Why Immigration Reform Means More Tax Revenues (Center for American Progress, 4/15/14), Patrick Oakford makes the following points: 5 million more workers and their employers would pay payroll taxes…

Gartland Law Blog

One of the wive’s tales about taxes is that you are due a refund you can file anytime you want. Be careful, that advice might cost you thousands of dollars. California has a law on its books that says if … Continue reading →

Want to tell the FTB you are a resident of Nevada? Its probably not going to work.

Getting enticed by those radio ads promoting Nevada corporations and becoming a Nevada resident so as to save on California taxes? Its not going to be easy. Below I posted a recent Board of Equalization case where a guy: 1. ……

If you can’t afford to pay your IRS tax bill, the IRS has a multitude of programs to help you out. One of the most interesting of the IRS programs is something called currently not collectible status. If the IRS … Continue…

Simrin Law

A dispute has arisen over the distribution of Farrah Fawcett’s assets. The case illustrates how high-value assets can become the focus of otherwise smooth transitions – even when a living trust is in play. Ms. Fawcett passed away…

A dispute has arisen over the distribution of Farrah Fawcett’s assets. The case illustrates how high-value assets can become the focus of otherwise smooth transitions – even when a living trust is in play. Ms. Fawcett passed away…

California Tax Lawyer Blog

In 2012, the IRS assessed over 37 million penalties to taxpayers. What you may not know is that almost 5 million of those penalties were abated in some way. If you owe the IRS, chances are the IRS has tacked on some sort of penalty with…

Nationwide phone scams from individuals pretending to be IRS employees are on the rise. Some of my own clients have personally been victims to these scams. Common threats my clients have been told are that they are being criminally…

The U.S. Treasury and IRS released a contingency plan in the event the government shuts down, which seems very likely at this point. So what does this mean for you as a taxpayer, and what you should expect should the shutdown…

409A Dismay

In a rare piece of good news relating to Section 409A of the Internal Revenue Code, on October 4, 2013, California reduced its additional state tax on income failing to comply with Section 409A from 20 percent to 5 percent. This reduction is…

From Benefits Notes Blog:"I also found the case interesting because of the time periods involved and the role of the taxpayers in the stock issuance. The case involved actions taken during the 409A transition period, the period of time…

The 1031 Exchange Blog

Leasehold Interest of Less Than 30 Years Not Like-Kind to Fee Simple Interest

Taxpayer Owns Leasehold Interest and Motel
The taxpayer in this Tax Court Case (VIP's Industries, Inc., June 24, 2013) owned a leasehold interest that had a remaining term of twenty-ond (21) years and four (4) months. The taxpayer had…

For real estate investors located in high tax rate states, such as California, the 1031 Exchange just moved to the top of their to-do list.
There were some very significant changes made to Federal and state tax codes, and a…

For real estate investors located in high tax rate states, such as California, the 1031 Exchange just moved to the top of their to-do list.
There were some very significant changes made to Federal and state tax codes, and a…

You have submitted your income tax return and now you’ve discovered an error….
Perhaps you missed a credit or deduction for which you were eligible. Perhaps you failed to include income reported on a Form 1099. Don’t fret. You…

Hello Fellow Taxpayers!
Today is the deadline for filing your income tax return or filing for a six-month extension of time to file your return. You need to mail either your tax return or your request for extension TODAY. We…

For Federal Tax Purposes, All Legal Same-Sex Marriages Will Be Recognized

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) ruled yesterday that same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for federal tax purposes. The ruling…

For Federal Tax Purposes, All Legal Same-Sex Marriages Will Be Recognized

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) ruled yesterday that same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for federal tax purposes. The ruling…

On Aug. 13, 2013, SAT officially announced “China Advance Pricing Arrangement Annual Report (2012)” in both Chinese and English. This is the fourth APA annual report released by the State Administration of Taxation…

Future Trends Indicated by Amendment on Tax Administration Law (Draft)

The socio-economic conditions and tax practices have taken great changes since Tax Administration Law was amended in 2001. In order to keep up with the latest developments in practice, Legislative Affairs Office of the State Council released…

Authorized tax collection refers to the act that tax authorities authorize companies or individuals to collect taxes in certain situations. In fact, it could be seen in many areas, for instance, tax authorities authorize maritime…

Special Needs, Elder Law, Wills, Trusts, Estates & Tax Blog

IRS Resolves the “Key West Dilemma” by Recognizing Same Sex Marriages Throughout the U.S.

by attorney Mark R. Friedman, FriedmanLaw The IRS announced today that they would treat same-sex couples as legally married based upon the couple’s state of ceremony, not their state of residence. In June, the Supreme Court struck down…

[The following article is by guest blogger Julie Donald, a freelance writer with a strong background is finance. Julie obviously knows her stuff and FriedmanLaw/SpecialNeedsNJ.com are proud to feature her work.] While…

People with serious disabilities often qualify for government benefits like Supplemental Security Income (SSI) and Medicaid that limit eligibility based on finances. Thus personal injury recoveries attributable to a disabled person…

South Carolina is on the cutting edge with its newest
investment tax credit for the redevelopment of abandoned buildings. It became the first state to enact an
investment tax credit for the redevelopment or rehabilitation of abandoned…

On
this blog we have discussed at length the various ways tax credits can benefit
a state. They circulate money back into an economy to increase spending,
provide incentives to clean up dilapidated sections of town raising property
values,…

As the official term of the South Carolina Legislative Session ended yesterday, so did the chances for the Abandoned Buildings Revitalization Act to become law this year. Supporters of the bill, including me, will try to revitalize the bill…

Property Tax in Florida

Covers property tax law in Florida, including questions relating to valuation, homestead exemptions, agricultural classifications, and how to challenge decisions of the taxing authority. By Sherri Johnson.

Pursuant to Florida Statute 194.011(3)(d), a petition to a county value adjustment board to challenge the assessment of the value of the taxpayer’s property must be filed no later than 25 days after the Property Appraiser…

Pursuant to Florida Statute 194.011(3)(d), a petition to a county value adjustment board to challenge the assessment of the value of the taxpayer’s property must be filed no later than 25 days after the Property Appraiser mails out the…

Property Tax Appeals: Should You File a VAB Petition or Go Straight to Court?

Property owners who would like to appeal their property tax assessments are faced with two choices in Florida – they can file a petition to the county value adjustment board or they can file a lawsuit in circuit court. Some attorneys…

Business and Tax Lawyer Blog

The purpose of the limited liability company (“LLC”) is to give investors limited liability and, at the same time, special treatment under the federal income tax laws. For Florida state income tax purposes, an LLC is expressly…

Florida recently passed a law which revamps its limited liability company act. This is important for all Florida LLC owners and upon reading this article, you should schedule a meeting with your business law attorney in order to discuss…

Florida has adopted the Revised Uniform Partnership Act (“RUPA”), which defines a partnership as an association of two or more persons to carry on as co-owners a business for profit. A partnership is unlike a corporation in that…

IRS Medic Blog

IRS Lien or Levy Help: The Difference, and what action you can take now BY: MICHELLE D. WYNN, ESQ. Many people that we talk to, both prospective clients and long-time clients alike, tell us numerous times “I can’t have the IRS…

Home Office expense audit of Deductions- A Source of Concern BY: David G. Parent, MBA, Esq. In reviewing income tax returns we always pay special attention to the Business use of your home section (Line 30) of the Schedule C. The reason…

What the 2013 Connecticut DRS Tax Amnesty is about To fight the budget crunch, the state of Connecticut is hoping that a state tax amnesty program will convince both businesses and individuals to come forward and pay the taxes they owe to the…

It used to be that living overseas - and all the financial and tax implications that come with it - was an acumen that belonged primarily to the super rich.
However, our Miami tax lawyers know that is no longer the case, as unemployment here…

Florida tax fraud prosecutions this year have been numerous - and they run the gamut.
One involved a former corrections officer, another a hospital worker, another an exotic dancer and yet another a former mayor.
Our Miami tax fraud defense…

The IRS-Tea Party scandal has rocked Washington, with news that the government tax authority improperly targeted the conservative group for political reasons.
Our Miami IRS audit defense lawyers know the reason this controversy has been so…

We finally got a new tax bill and now everybody wants to know what’s in it. I’m still working on digesting it myself, but if you want to get ahead of the curve, I recommend taking a look at the … Continue reading →

Apparently in response to my post yesterday, I received a couple of questions from people as to whether or not I think Congress will let us go over the “fiscal cliff.” First let me say that I really do not … Continue…

The American Institute of CPAs has released a Fiscal Cliff Series that provides a brief, objective and non-partisan fact sheet on each of the following tax topics: Alternative Minimum Tax Individual Income Tax Rates Estate Tax…

What is a “notice of deficiency,” and why did I just get one in the mail? A notice of deficiency is your formal notice that the IRS has determined you owe more taxes than what you have paid for a period. The notice will…

What is a “notice of deficiency,” and why did I just get one in the mail? A notice of deficiency is your formal notice that the IRS has determined you owe more taxes than what you have paid for a period. The notice will…

The Washington State Department of Revenue collects numerous taxes, including two which are likely to be paid by most businesses in the state: the business and occupation (B&O tax) and local sales tax. The B&O tax is imposed on all…

Tax Policy Blog

Covers federal, state and international tax issues, including AMT, capital gains and dividends taxes, corporate income taxes, income taxes, property taxes, and sales and use taxes. By the Tax Foundation.

In a recent op-ed in the New York Times [found here], Warren Buffett is once again insisting on a new super-minimum tax on the super-wealthy. He suggests that the rich pay an effective tax rate of 30 percent on incomes between $1 million…

On behalf of the state policy team at the Tax Foundation, I want to wish you a happy Thanksgiving holiday! We're very thankful of the continuing praise and support we've gotten from you as we've worked to bring about simple, sensible tax…

I’m reviving my blog to make a couple of comments about the election and because I’ll be traveling again soon, always a good time for posting. Some of these are comments I’ve already posted on Facebook et al. Here we…

Stories have been floating around the international media about various outrages attributed to Haredim or "ultra-orthodox" Jews in Jerusalem and other cities. These include forced segregation of men and women on buses, efforts to keep…

My class is over and I'm using the last three days to see parts of Israel that I might otherwise miss. Last night I headed to Jerusalem for a workshop at the Van Leer Institute on Arab and Jewish demography, not normally one of my core…

Tax Relief Blog

Whittier CA: Taxes taking over? Settle your tax issues for a fraction of what you owe!

Mike Habib is not a tax attorney, but a Circular 230 licensed tax professional. What does this mean for you? Mike is a professionally licensed EA Enrolled Agent with the IRS who has over 20 years of working in the financial and tax field.…

What is an Enrolled Agent?
An Enrolled Agent (EA) is a Federally Authorized Tax Practitioner who has technical expertise in the field of taxation and who is empowered by the United States Department of the Treasury to represent taxpayers…

Tax Nightmares

AMNESTY FOR TEXAS SALES TAX & FRANCHISE TAXES The Comptroller of Public Accounts has announced an AMNESTY for sales tax. The amnesty is of limited duration. It will not help with audits or tax debt. It will help non-filers and…

There is a serious risk when you file bankruptcy to stop tax levies. The bankruptcy filing may not discharge the tax debt in a Chapter 7 case. The filing may require payment in full of the priority tax claim (taxes typically less than three…

I received a call from one of my long time clients today. I have been representing this business for close to a year with sales tax and IRS payroll tax problems. The conversation was very emotional. He said, "The comptroller just shut down my…

Subchapter Tax

Tax Policy Center: Income Taxes of the Presidential Candidates: Why They Paid What They Paid

Tax Policy Center developed an interactive tool that analyzes the 2011 federal income tax returns of President Barack Obama, Vice President Joe Biden, Mitt Romney, and a typical middle-class married couple with children. The interactive tool…

Tax Policy Center: Income Taxes of the Presidential Candidates: Why They Paid What They Paid

Tax Policy Center developed an interactive tool that analyzes the 2011 federal income tax returns of President Barack Obama, Vice President Joe Biden, Mitt Romney, and a typical middle-class married couple with children. The interactive tool…

The recent decision of the Superior Court of Justice in the Murphy Estate considers what happens when parties to a proceeding settle a matter on the basis of faulty facts and one of the parties suffers from “buyer’s remorse”.

One of an estate trustee’s duties is to pay the debts that a deceased individual owed when he or she died. As I have previously discussed, the estate trustee is generally not personally liable for the deceased’s debts – they are paid…

OUT-OF-STATE SELLERS:
DO YOU NEED TO REGISTER WITH CALIFORNIA STATE BOARD OF EQUALIZATION FOR SALES AND USE TAX?
State of California taxes are governed by the following entities:
California BOE Sales Tax
California Income Tax Franchise…

Estates of Mind

I have been receiving the same type of question from many clients lately. In each instance, the question centers around the activities of the government in spending more money than we have (and printing what it doesn't have!) and what that…

I'll be teaching Federal Income Taxation in the Fall Semester at Trinity law School. For any students reading this, we'll be going through many of the fundamental code sections that are important in this practice area and focusing on…

I'll be teaching Federal Income Taxation in the Fall Semester at Trinity law School. For any students reading this, we'll be going through many of the fundamental code sections that are important in this practice area and focusing on…

Future of the Federal Estate Tax

My previous post highlights how Americans are generous, despite a challenging economy. An earlier post mentioned that donating firearms could help the donor, the donor’s family, the charitable organization, and all Americans who get a…

A recent report highlights the generosity of Americans. Giving USA 2011: The Annual Report on Philanthropy for the Year 2010 finds that Americans contributed about 2 percent of disposable income in 2010. The executive summary of the report…

I have been researching estate planning for firearms, and I came across a video that is worth sharing today, a day on which we celebrate the United States and reflect on its history. The video is about the Girandoni air rifle, which is on…

Since IRAs have become a popular retirement tool, it was only a matter of time before inherited IRAs become a common place. When the owner of an IRA passes away, the named beneficiary inherits the account. Inherited IRAs have restrictions and…

If you're in or near retirement, chances are you've already heard that you can use Roth IRA income as a key tool in funding your retirement. That’s because, while money going into a Roth IRA is taxed, all earnings are tax-free, as long as…

I have been meaning to post a link and video from an article Attorney Joe Boucher and I were fortunate enough write for the Wisconsin Lawyer magazine in December 2010 titled, E-Legacy: Estate Planning for Digital Assets. The State Bar of…

In January, Louisiana lawmakers will be hearing a lot about exactly how big that state's transportation funding shortfall is, as a committee releases the findings of a long-term study of this problem. But House Transportation Committee…

This week Hawaii Governor Linda Lingle released the outline of her budget proposal for next year. It's not a pretty picture: the two most prominent tax policy changes in the Lingle plan are a money grab from county governments and a money…

Category: Tax Law and PlanningCourtesy of JH Cohn:New Jersey Enacts Tax Amnesty Program"New Jersey Governor Jon Corzine has signed a bill creating a 45-day New Jersey state tax amnesty period that will end no later than June 15, 2009.…

Tax Exempt Law Student Blog

The Tax Court held that a taxpayer could not deduct the $33,000 cost of obtaining a Harvard M.B.A. as an educational expense under Reg. § 1.162-5. Foster v. Commissioner, T.C. Summ. Op. 2008-22 (2/28/08). The court concluded that her…

When the economy starts to hit the skids, as is currently happening, people tightent their belt, and superfluous spending such as charitable donations is heavily reduced. As a result, charities engage in more business activity to hold them…

On February 25, 2008, the IRS issued guidance on the Form 990-N, the "e-Postcard," filing requirement of small tax-exempt organizations (i.e., those with gross receipts annually of $25,000 or less). The Pension Protection Act of 2006…

In 1770, a prominent Boston lawyer represented the Capt. Thomas Preston and the British soldiers after the Boston Massacre. They were immensely unpopular. This account of that lawyer's recollection of his retention for the defense was…

Frederick Focke Mischler

Below is copied an old email message I sent out to some friends. It is difficult to recall the precise emotions as I watched the Schiavo family and their tragedy rehashed ad nauseum in the media. In the end, I hoped the public awareness…

Below is copied an old email message I sent out to some friends. It is difficult to recall the precise emotions as I watched the Schiavo family and their tragedy rehashed ad nauseum in the media. In the end, I hoped the public…

The Deed is a document that transfers title in real estate. In the sale of a piece of property, the seller is the "grantor" and the buyer is the "grantee". There are 6 statutory forms for deeds in Ohio.